Ekonomické zprávy

U.S. housing starts drop more than forecast in January

The monthly report on new residential construction from the Commerce Department showed on Thursday the housing starts fell by 4.1 percent m-o-m in January 2022 to a seasonally adjusted annual pace of 1.638 million (the lowest level since October 2021), while building permits rose by 0.7 percent m-o-m to a seasonally adjusted annual rate of 1.899 (the highest level since May 2006).

Economists had forecast housing starts decreasing to a pace of 1.700 million units last month and building permits declining to a pace of 1.760 million units.

Data for December 2021 was revised to show homebuilding growing at a pace of 1.708 million units, instead of increasing at a rate of 1.702 million units as previously reported.

According to the report, permits for single-family homes, the largest segment of the market, surged by 6.8 percent m-o-m in January, while approvals for the multi-family homes segment (includes 2 to 4 and 5 or more housing units) fell 8.3 percent m-o-m.

In the meantime, groundbreaking on single-family homes plunged by 5.6 percent m-o-m in January, while multi-unit starts decreased 0.8 percent m-o-m. 

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